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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias as it closed with 0.42% gain at 25041 level yesterday. Banking index underperformed the benchmark index as it closed with 0.30% gain at 51272 level

* India VIX closed with 6.16% cut at 13.36 level

* Among Sectors MEDIA outperformed the benchmark index as it closed with 2.69% gain.

* Broader market outperformed the benchmark index as both MIDCAP100 and SMALLCAP100 index closed with 1.19% and 1.15% gains respectively.

* Advance/Decline ratio was in favour of advances and cash turnover was lower than 5-day average. FII were net buyers while DII were net sellers in the cash segment.

* Both European markets (DAX) and US markets (DJIA) closed lower yesterday. Asian Markets are trading with negative bias today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today. Index has support at 24900 - 24850 level and resistance at 25150 - 25200 level.

* Banking index is likely to perform in line with benchmark index today with support at 50700 - 50500 level and resistance at 51700 - 51900 level.

* NTPC has closed with bullish candlestick pattern and it is likely to trade with positive bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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